12/22/2022
The California-based company plans an additional $848 million worth of investments in 12 sound stages and for other uses related to the film industry.
“We’re thrilled to continue and expand our significant investment in New Jersey and North America,” said Ted Sarandos, the company’s co-CEO and chief content officer. “We believe a Netflix studio can boost the local and state economy with thousands of new jobs and billions in economic output, while sparking a vibrant production ecosystem in New Jersey.”
The announcement was made Wednesday evening, following a vote by the Fort Monmouth Economic Revitalization Authority to accept Netflix’s bid over three competing offers.
The first will include the construction of a dozen sound stages, each ranging in size from 15,000 to 40,000 square feet (around 1,400 to 3,700 square meters).
Additional work may include office space, production services buildings and related studio space with the potential for consumer-focused components including retail uses.
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